5 June 2025

• Lodge tax returns due for individuals and trusts with a lodgment due date of 15 May 2025 provided they also pay any liability due by this date.
• Lodge tax return for companies and super funds with a lodgment due date of 15 May 2025 provided both the prior year and current year return will be non-taxable or result in a refund.

21 June 2025

• Lodge and pay May 2025 monthly business activity statement.

25 June 2025

• Lodge and pay 2025 Fringe benefits tax annual return for tax agents if lodging electronically.

30 June 2025

• End of Financial Year

It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000.

This was announced back in the 2024-25 Federal Budget but the Government faced a number of hurdles in terms of passing the legislation.

This basically means that individuals and entities who carry on a business with turnover of less than $10m can often claim an immediate deduction for the cost of depreciating assets (eg, plant and equipment) that are acquired during the 2025 financial year as long as the cost of the asset, ignoring GST credits that can be claimed, is less than $20,000.

If you are thinking about purchasing an asset before 30 June 2025 with the hope of claiming an immediate deduction, then please reach out to us to confirm the position. The rules contain a number of tricks and traps which we can help you to navigate.

The threshold is due to drop back to $1,000 from 1 July 2025 unless further legislation is passed to provide another temporary increase to the threshold or a permanent modification.

In today’s rapidly changing business landscape, the concept of a VUCA world (Volatility, Uncertainty, Complexity, Ambiguity) has evolved into a BANI world (Brittle, Anxious, Nonlinear, Incomprehensible). This shift reflects the increasing fragility and unpredictability of our environment, where traditional strategies often fall short.

BRITTLE systems can break under pressure, anxiety permeates decision-making, nonlinear events disrupt plans, and incomprehensible situations challenge our understanding. If you are operating a business in this world, having a clear vision that acts as a lighthouse will guide your team through these uncertain times.

A well-defined vision provides direction and purpose, enabling leaders and their teams to make agile decisions amidst chaos. It serves as a constant reference point, helping to align actions with long-term goals even when immediate circumstances are unpredictable.

To thrive in the BANI world, organisations must:

1.Embrace Flexibility: Adapt quickly to changes and be open to new approaches.

2.Foster Resilience: Build systems and teams that can withstand shocks and recover swiftly.

3.Encourage Innovation: Promote creative problem-solving to navigate complex challenges.

4.Maintain Clarity: Ensure that the vision is communicated clearly and consistently to all team members.

By anchoring your strategy in a strong vision, you can steer your organisation through the uncertainties of the BANI world, making informed and agile decisions that drive success.  Do you have a clear, written Vision that all employees are aware of? Harris Black has a proven process for developing your Vision, please contact your Harris Black team member if you would like to explore this further.

As shared by neurologist Dr. Paul Taylor at our recent Brentnalls Conference in Hobart, the Pomodoro Technique is scientifically aligned with optimal brain function, helping you maximise productivity while preventing burnout.

This technique breaks work into 25-minute focused intervals (called “pomodoros”), followed by 5-minute breaks. After completing four pomodoros, take a longer 15-30 minute break to recharge.

During your breaks, be sure to get up and move around rather than staying seated. Look away from your screen and focus your eyes on distant objects to reduce digital eye strain and reset your vision.

Developed by Francesco Cirillo in the 1980s and named after his tomato-shaped kitchen timer, this method effectively combats procrastination, maintains focus, and creates a sustainable work rhythm.

Getting started is simple: select a task, set a timer for 25 minutes, work with complete focus until the timer rings, then take your short break.

Stay tuned for more productivity tips in our upcoming series designed to help you work smarter, not harder.

Research by Mindshop has revealed the top 5 tips leaders would give others for leveraging AI and innovative technologies in leadership for 2025 and beyond:

1. Start Small, Experiment, and Stay Curious

Leaders emphasise starting with manageable use cases to build confidence. This practical approach allows organisations to learn and adapt as they develop AI capabilities.

2. Use AI as a Tool for Augmentation, Not Replacement

AI should be used to complement human efforts by automating routine tasks, improving workflows, and enhancing strategic decision-making. This collaborative approach yields better results than replacement strategies.

3. Be Open-Minded and Embrace Change

Adopt a forward-thinking mindset. Embrace the potential of AI and other technologies to differentiate yourself, improve processes, and gain insights, but remain adaptable to evolving tools and methodologies.

4. Have a Clear Strategy and Understand the Impact of AI

Develop a well-defined plan for how AI and emerging technologies align with business goals. Organisations seeing the greatest benefits connect their AI initiatives directly to strategic objectives.

5. Invest in Skills Development and Staff Training

Leaders stressed the importance of building knowledge and skills around AI usage, including training teams on how to effectively use and prompt AI systems. This investment consistently delivers stronger returns.

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Disclaimer: This article summarises research conducted by Mindshop and provides general information about artificial intelligence trends. It is not intended as specific advice for your organisation. AI capabilities, regulations, and best practices continue to evolve rapidly. Please consult with qualified professionals regarding implementation strategies appropriate for your specific circumstances and requirements.